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Asked by Prashant on :Jun. 13, 2018

Hello everyoneI am doing a business of growing an…

Hello everyoneI am doing a business of growing and manufacturing tea. Recently, I have got a subsid…

Hello everyone

I am doing a business of growing and manufacturing tea. Recently, I have got a subsidy of 5 lakhs from tea board. Is it taxable?

0

Jeeba Jun. 13, 2018

As per section10(30), subsidy received by assessee engaged in a business of growing and manufacturing of tea through Tea Board shall be wholly exempted from tax. Since you are engaged in the business of growing and manufacturing tea and subsidy is received from Tea Board , amount received by you from tea Board is not taxable.

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